how can you save money when you barely make enough money to cover bills without getting another job.?

Answer 1

I know many people who claim to be hard up and yet they earn more money than me. They borrow from me because they run out of money!! How can it be when they have a smaller family, less bills, no car to run, ect ect?
Well, I figure that the facts are they buy DVD's, CD's, eat out regularly, go cinema play bowls, go drinking and clubbing weekly. I don't do these things except very rarely as a treat. Maybe to some that means not much of a life, but to me it is the difference between having enough money to last the month and not having it. Simple!

Answer 2

If I were in that situation, I'd first ask myself if I have unnecessary bills. In other words, did I get myself into this position by not spending wisely? Do I have the most expensive Internet service? Do I need HBO? Do I need a land line phone and a cell phone?

If I've cut all fat out of my spending and I'm still having trouble saving money after paying all of the bills (btw...I should be paying the bills after I save money - pay yourself first), then it sounds like I have an income issue rather than a spending issue.

In that case I'd evaluate how I could go about getting a better job to make more money. I could go back to school. I know that's expensive, but I know that the payoff of higher income and upward mobility would more than offset the loans that I might have to take out. Investing in yourself to improve your job skill is the best investment you can make.

If you already have a promising career ahead of you, then I'd try to figure out real quick what it takes to advance and do it.

Answer 3

You're right, it's hard to save money when there isn't much in the first place. If you can get a second joba nd save all your money from that. But just to get into the habit of managing money well for when you do make enuogh money to save one day just watch your money for example:
-don't eat out, even if it means eating pb&j and bologna sandwiches the result is worth it
-don't spend money on designer clothing, only buy from clearance racks and only rarely visit clothing stores at all because even though you may buy sale items that still can get expensive
-get minimum cable, nowadays the major networks that come with basic cable are entertaining enough you don't need those cable channels
-don't buy bottled water or snacks and drinks everyday, bring drinks and snacks from home
-rent movies instead of going to the movies (and try not to do that too much either renting is pretty exoensive now)
-when you go out with friends, don't go hungry, eat a big dinner first at home and don't get too many drink. Get what's for happy hour and get only a few.
-when you buy people gifts for the holidays or any occassion, put a limit to how much you spend for everyone, like $20 a person, and that's it no matter what.

Answer 4

You need to look closely at just what you're spending money on. Get yourself a small notebook and write down each purchase you make daily. You'll be shocked at how much you spend on everyday items like a soda and chips from the vending machine. Purchase items like these on sale at the grocery store and take them to work with you. Instead of purchasing the name brand item for everything you use try the generic brand. A lot of items are produced by the same manufacturer but packaged specifically for the "store". Always calculate the cost per item of each purchase (package price divided by number of items or servings per package.) As fuel prices are rising be sure to plan your daily commute to include stops you need to make along the way. Running back and forth from home to work, back home again, then to the store, then home and out to another establishment wastes a lot of gasoline. I know this sounds like a lot of work but once you get into the swing of things you'll be surprised at how much you can save. For more ideas you can check out Clark Howard's website. I find that he has a lot of good ideas (and no, I'm not affiliated with him in any manner!) You can also visit (or call) your local Consumer Credit Counseling Service office. Make sure it is a non-profit organization. They have some on-line tools too - www.cccsstl.org. Good Luck!

Answer 5

Life insurance is an ideal solution to cover the possibility of financial problems because it not only gives you life insurance protection but provides a regular savings scheme as well. It is a systematic way of accumulating money that is then managed by professionals to be used for your specific financial purposes, and at the same time providing protection in the event of a calamity which may jeopardise that plan.

Financial planning is made so much easier with life insurance, because it can help grow the amount of money that you have saved. You will then be able to proceed with getting the good things you've always wanted out of life such as: good education for your children, setting aside funds for their wedding or retiring in comfort.

Answer 6

Very tricky. I'd recommend budgeting. Make sure that every penny in and every penny out is accounted for. Knowing what you spend is the easiest way to start controlling it.

Once you can do that, you can see if there's anywhere you're wasting money, or if there are any things you're willing to give up to have a little more money.

Answer 7

(1) brown bag your lunch each day, take the money you would have spent for lunches out and put in the bank. (2) cut eating out down to 1-2 times per month instead of weekly. take that money and put it in the bank. (3) when you go on trips fix snacks (apples, oranges, carrot sticks, nuts etc and eat them for lunch instead of stopping on the road for a meal. (4) when you go to the movies, do not use the snack bar, eat at home before you go. (5) everytime you break a dollar, put the change in a jar and take the jar to the bank say once a month. (6) on grocery shopping, if you like to eat something the grocery store has on sale buy it instead of something that is not on sale. (7) use coupons. (8) when you do eat out, take advantage of early bird and 2 for 1 at resturants. (9) keep your use of paper (plates, towels, etc down) None of these things hurt your standards of living, but it can add up to 1,000.00 or more dollars per year.

Answer 8

with the new year coming in promise yourself to do better, it could he changing jobs, or getting rid of some thing you don"t really need or can do without.Tax time is coming take some of that money and save it if you can.If you are able to work, pay all your bills and are not going hungry be thankful,HAPPY HOLIDAYS

Answer 9

plus, you can save your coins. never spend them! bring them home each day and put into a jar. you might be surprised at the result. then when you have enough, deposit them into your savings account and leave them there! just keep doing that. that is one "easy" way to make a bit of a difference. good luck

Answer 10

I know people have to get out and enjoy life a little. In the situation you describe, that may have to be only once or twice per month.